The small-business jobs bill is now under consideration in the Senate, with supporters hoping the $30 billion legislation passes before the August recess.

Highlights of the bill include:

• Self-employed business owners could deduct their family's health insurance expenses from their 2010 self-employment tax income.

• Regarding general business 7(a) loans, the 90 percent guarantee level and waived borrower fees would be extended through 2010. In addition, the maximum loan size, which currently stands at $2 million, would increase to $5 million.

• The maximum size of microloans would increase permanently from $35,000 to $50,000, and microlenders could borrow $5 million from the SBA, up from $3.5 million.

• The SBA would set alternative size standards for 7(a) and 504 borrowers based on tangible net worth and average net income. Standards would be set temporarily at a net worth of up to $15 million and a net income of up to $5 million.

The entire bill and a detailed summary of the legislation can be found at http://finance.senate.gov.